Given how well they've spent the money so far—hiding who much of it is going to, getting lousy collateral in exchange for the money, not convincing banks to actually lend again or reduce interest rates (in fact some, Citi for example, are increasing credit card interest rates) and so on, it's hard to imagine why Obama would be willing to give this crew the money.
Oh I'm sure that they'll tell Obama they'll spend it wisely, and I'm sure they'll threaten him with economic apocalypse if they don't get the cash. But the bottom line is that so far Paulson has used the TARP money as a personal slush fund to bail out his friends and make sure no one important loses their jobs by not tying the money to any real reform or requirements that the people who caused the crisis step down and let actual competent people fill their shoes.
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